Although the economy is in terrible shape, that doesn’t mean smart video publishers like you can’t continue to be successful in monetizing your content. Rolling with the punches now will set you up for dramatic growth once the economy turns around. When is that, you ask? 6-12 months in my estimation, if all goes well.
So how can YOU maximize your revenue in a down economy? Here are few pointers:
· Be flexible with ad formats
Now is the time to engage with agencies and demonstrate your value. Even within the established ad types, marketers still like to experiment. When the budget makes sense, work with them on research studies. Provide engagement metrics. Try a variety of creative formats and work closely with your client to determine the most successful approach.
· Optimize for performance
Even in video, click-through rate still matters. While many advertisers are satisfied to obtain strong reach adjacent to high-quality content, an equal or greater number are optimizing their campaigns based upon CTR and conversion. Use the tools at your disposal to strive for a 1% or higher CTR: turn off autoplay on your pre-roll. Study which sections of your site achieve the highest performance. Work with your agencies to learn which creatives are resonating best with your audience and see if you can shift delivery to those.
· Keep your content fresh and advertiser-friendly
If your video becomes stale, it will lead to a downward spiral of click-through rates and impressions. Make sure you’re properly merchandising your new video throughout the site and give users the tools they need to share links with their friends.
· Make sure users know about your latest and greatest
If you’re lucky enough to be a content creator, think about whether your video appeals to advertisers. Content doesn’t have to be “G-rated” — but keep in mind that the largest buys are still targeted to relatively general audiences.
· Don’t panic (MUCH easier said than done?)
It is highly unlikely that you will ever completely sell out your video inventory. This is because inventory spikes (such as those which may result from breaking news or video going viral) are impossible to predict, and there are companies that are able to help fill those spikes.
· The Chinese word “crisis” also means opportunity
Approach this downturn as an opportunity to differentiate yourself. Consult more often with your advertisers and work hard (OK. even harder) to earn their business.
“Order-takers” might not survive this downturn, but smart media sellers will. I trust that will be YOU.
Sphere: Related Content
